This clear concise guide enables readers to translate financial jargon in order to develop a solid basis to execute their strategic planning and decision-making responsibilities. It covers the gamut on the financial end of management--keys to deciphering financial statements and balance sheets, understanding basic concepts for designing budgets and P&Ls, simple formulas to comprehend inventory principles, and descriptions of economic rules. This updated edition contains new topical examples, charts and tables plus the latest federal tax and regulatory legislation.